72.05 USD
-0.77 (-1.06%)
72.05 USD
0 (0%)
Taking everything into account, INDB scores 4 out of 10 in our fundamental rating. INDB was compared to 387 industry peers in the Banks industry. INDB has a bad profitability rating. Also its financial health evaluation is rather negative. INDB has a decent growth rate and is not valued too expensively. Finally INDB also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
INDB had positive earnings in the past year.
INDB had a positive operating cash flow in the past year.
Each year in the past 5 years INDB has been profitable.
In the past 5 years INDB always reported a positive cash flow from operatings.
1.2 Ratios
With a Return On Assets value of 0.72%, INDB is not doing good in the industry: 63.82% of the companies in the same industry are doing better.
With a Return On Equity value of 5.07%, INDB is not doing good in the industry: 77.52% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.72% | ||
| ROE | 5.07% | ||
| ROIC | N/A |
ROA(3y)1.2%
ROA(5y)1.02%
ROE(3y)7.94%
ROE(5y)6.99%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
INDB's Profit Margin of 23.04% is in line compared to the rest of the industry. INDB outperforms 43.67% of its industry peers.
INDB's Profit Margin has declined in the last couple of years.
INDB does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 23.04% | ||
| GM | N/A |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y5.31%
PM growth 5Y-3.04%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
INDB does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, INDB has less shares outstanding
Compared to 5 years ago, INDB has more shares outstanding
Compared to 1 year ago, INDB has an improved debt to assets ratio.
2.2 Solvency
The Debt to FCF ratio of INDB is 1.80, which is an excellent value as it means it would take INDB, only 1.80 years of fcf income to pay off all of its debts.
With a Debt to FCF ratio value of 1.80, INDB perfoms like the industry average, outperforming 51.94% of the companies in the same industry.
A Debt/Equity ratio of 0.10 indicates that INDB is not too dependend on debt financing.
INDB's Debt to Equity ratio of 0.10 is fine compared to the rest of the industry. INDB outperforms 68.22% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.1 | ||
| Debt/FCF | 1.8 | ||
| Altman-Z | N/A |
ROIC/WACCN/A
WACC11.77%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 10.22% over the past year.
INDB shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -4.31% yearly.
The Revenue has grown by 13.10% in the past year. This is quite good.
INDB shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.29% yearly.
EPS 1Y (TTM)10.22%
EPS 3Y-4.78%
EPS 5Y-4.31%
EPS Q2Q%53.47%
Revenue 1Y (TTM)13.1%
Revenue growth 3Y10.77%
Revenue growth 5Y6.29%
Sales Q2Q%39.08%
3.2 Future
The Earnings Per Share is expected to grow by 22.52% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 16.17% on average over the next years. This is quite good.
EPS Next Y23.75%
EPS Next 2Y28.12%
EPS Next 3Y22.52%
EPS Next 5YN/A
Revenue Next Year24.12%
Revenue Next 2Y22.4%
Revenue Next 3Y16.17%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 14.21 indicates a correct valuation of INDB.
INDB's Price/Earnings ratio is a bit more expensive when compared to the industry. INDB is more expensive than 65.12% of the companies in the same industry.
INDB's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.31.
The Price/Forward Earnings ratio is 9.65, which indicates a very decent valuation of INDB.
INDB's Price/Forward Earnings is on the same level as the industry average.
Compared to an average S&P500 Price/Forward Earnings ratio of 36.56, INDB is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.21 | ||
| Fwd PE | 9.65 |
4.2 Price Multiples
68.22% of the companies in the same industry are cheaper than INDB, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 17.86 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
INDB's earnings are expected to grow with 22.52% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.6
PEG (5Y)N/A
EPS Next 2Y28.12%
EPS Next 3Y22.52%
5. Dividend
5.1 Amount
INDB has a Yearly Dividend Yield of 3.24%. Purely for dividend investing, there may be better candidates out there.
INDB's Dividend Yield is a higher than the industry average which is at 3.15.
Compared to an average S&P500 Dividend Yield of 2.32, INDB pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.24% |
5.2 History
The dividend of INDB has a limited annual growth rate of 5.56%.
INDB has been paying a dividend for at least 10 years, so it has a reliable track record.
INDB has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)5.56%
Div Incr Years14
Div Non Decr Years30
5.3 Sustainability
INDB pays out 54.90% of its income as dividend. This is a bit on the high side, but may be sustainable.
The dividend of INDB is growing, but earnings are growing more, so the dividend growth is sustainable.
DP54.9%
EPS Next 2Y28.12%
EPS Next 3Y22.52%
72.05
-0.77 (-1.06%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)
Earnings (Next)
Inst Owners79.78%
Inst Owner Change8.29%
Ins Owners0.78%
Ins Owner Change0.44%
Market Cap3.57B
Revenue(TTM)780.44M
Net Income(TTM)179.82M
Analysts82
Price Target84.92 (17.86%)
Short Float %3.59%
Short Ratio5.82
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.24% |
Yearly Dividend2.25
Dividend Growth(5Y)5.56%
DP54.9%
Div Incr Years14
Div Non Decr Years30
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)0.14%
Min EPS beat(2)-1%
Max EPS beat(2)1.28%
EPS beat(4)2
Avg EPS beat(4)-1.93%
Min EPS beat(4)-10.02%
Max EPS beat(4)2.05%
EPS beat(8)3
Avg EPS beat(8)-1.57%
EPS beat(12)6
Avg EPS beat(12)-1.77%
EPS beat(16)9
Avg EPS beat(16)1.94%
Revenue beat(2)1
Avg Revenue beat(2)-0.78%
Min Revenue beat(2)-1.57%
Max Revenue beat(2)0%
Revenue beat(4)1
Avg Revenue beat(4)-0.78%
Min Revenue beat(4)-1.57%
Max Revenue beat(4)0%
Revenue beat(8)1
Avg Revenue beat(8)-1.43%
Revenue beat(12)2
Avg Revenue beat(12)-1.53%
Revenue beat(16)5
Avg Revenue beat(16)-0.96%
PT rev (1m)4.06%
PT rev (3m)4.72%
EPS NQ rev (1m)2.95%
EPS NQ rev (3m)2.15%
EPS NY rev (1m)0.73%
EPS NY rev (3m)1.53%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.53%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.22%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.21 | ||
| Fwd PE | 9.65 | ||
| P/S | 4.58 | ||
| P/FCF | 17.86 | ||
| P/OCF | 16.61 | ||
| P/B | 1.01 | ||
| P/tB | 1.54 | ||
| EV/EBITDA | N/A |
EPS(TTM)5.07
EY7.04%
EPS(NY)7.47
Fwd EY10.37%
FCF(TTM)4.03
FCFY5.6%
OCF(TTM)4.34
OCFY6.02%
SpS15.74
BVpS71.54
TBVpS46.83
PEG (NY)0.6
PEG (5Y)N/A
Graham Number90.34
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.72% | ||
| ROE | 5.07% | ||
| ROCE | N/A | ||
| ROIC | N/A | ||
| ROICexc | N/A | ||
| ROICexgc | N/A | ||
| OM | N/A | ||
| PM (TTM) | 23.04% | ||
| GM | N/A | ||
| FCFM | 25.63% |
ROA(3y)1.2%
ROA(5y)1.02%
ROE(3y)7.94%
ROE(5y)6.99%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y5.31%
PM growth 5Y-3.04%
GM growth 3YN/A
GM growth 5YN/A
F-Score3
Asset Turnover0.03
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.1 | ||
| Debt/FCF | 1.8 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | 36.29% | ||
| Cap/Sales | 1.94% | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | 111.22% | ||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z | N/A |
F-Score3
WACC11.77%
ROIC/WACCN/A
Cap/Depr(3y)50.27%
Cap/Depr(5y)54.76%
Cap/Sales(3y)2.72%
Cap/Sales(5y)3.15%
Profit Quality(3y)123.13%
Profit Quality(5y)109.73%
High Growth Momentum
Growth
EPS 1Y (TTM)10.22%
EPS 3Y-4.78%
EPS 5Y-4.31%
EPS Q2Q%53.47%
EPS Next Y23.75%
EPS Next 2Y28.12%
EPS Next 3Y22.52%
EPS Next 5YN/A
Revenue 1Y (TTM)13.1%
Revenue growth 3Y10.77%
Revenue growth 5Y6.29%
Sales Q2Q%39.08%
Revenue Next Year24.12%
Revenue Next 2Y22.4%
Revenue Next 3Y16.17%
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-38.5%
FCF growth 3Y8.28%
FCF growth 5Y0.94%
OCF growth 1Y-36.51%
OCF growth 3Y6.53%
OCF growth 5Y1.21%
INDEPENDENT BANK CORP/MA / INDB FAQ
Can you provide the ChartMill fundamental rating for INDEPENDENT BANK CORP/MA?
ChartMill assigns a fundamental rating of 4 / 10 to INDB.
Can you provide the valuation status for INDEPENDENT BANK CORP/MA?
ChartMill assigns a valuation rating of 4 / 10 to INDEPENDENT BANK CORP/MA (INDB). This can be considered as Fairly Valued.
How profitable is INDEPENDENT BANK CORP/MA (INDB) stock?
INDEPENDENT BANK CORP/MA (INDB) has a profitability rating of 2 / 10.
What are the PE and PB ratios of INDEPENDENT BANK CORP/MA (INDB) stock?
The Price/Earnings (PE) ratio for INDEPENDENT BANK CORP/MA (INDB) is 14.21 and the Price/Book (PB) ratio is 1.01.
Can you provide the dividend sustainability for INDB stock?
The dividend rating of INDEPENDENT BANK CORP/MA (INDB) is 7 / 10 and the dividend payout ratio is 54.9%.